Updated: November 11, 2021

Student Choice Student Loan Refinance Review

Student Loan Refinance

Advertising disclosure
Refinance
Student Loan Rating
2.5 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Not Available
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Not Available
Repayment Terms
Not specified
Important Information

Rewards: 0.25% interest rate reduction with autopay

Eligibility Requirements: Must become a member of the credit union you are matched with

Overall Limits: $125,000 (maximum)

The bottom line:

Credit Union Student Choice is a credit union cooperative comprised of various private financial institutions and service organizations. This lending program is designed to match borrowers with credit unions from a long list of hundreds of member-owned institutions best suited to meet their needs. Whether or not Credit Union Student Choice is right for you ultimately depends on which local credit union you’re matched with as many terms of refinancing are determined by the specific credit union.

Pros

  • 0.25% interest rate reduction for autopay enrollment
  • Parent PLUS loans qualify for refinancing
  • No origination, application or prepayment fees

Cons

  • Cosigner release may not be available for all credit unions
  • Forbearance, deferment and discharge options not advertised
  • Borrowing limit on the lower end
Credit Union Student Choice Earnest SoFi
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Fixed:
Not Available
Variable:
Not Available
Fixed:
2.44% - 5.79%
Variable:
1.88% - 5.64%
Fixed:
2.49% - 6.94%
Variable:
2.25% - 6.59%
Loan repayment terms (Years) Not specified 5, 10, 15, 20 years 5, 7, 10, 15, 20 years
Cosigner release? Not specified Not specified None

To qualify for a refinanced loan with this lender, you will need to become a member of whichever credit union you will be borrowing with. Most credit unions charge member fees for a share in the institution and many also have a list of eligibility requirements. These can depend on anything from area of residence to place of employment or may just require that you are a U.S. citizen. 

Credit unions are generally able to offer robust customer service and perks to their members because they have fewer customers to attend to and are non-profit. Credit Union Student Choice provides free tutoring and financial literacy training to all borrowers.

Unfortunately, many of the things you might be wondering about this lender also depend on the specific credit union. These include whether or not a cosigner is allowed on an application and, if so, whether they can be released; financial assistance, such as forbearance, and other loan payment assistance availability; and even what your interest rate will be. Credit Union Student Choice promises that your rate will be competitive, but you’ll have to apply to find out for sure. Your credit decision, at least, will be instant through their online application process.

The minimum required to borrow is $5,000 and the maximum loan amount is $125,000. Length of repayment may be 5, 10 or 15 years. Only college graduates qualify.

Credit Union Student Choice - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Not specified by lender
  • Repayment Terms: Not specified by lender
  • Minimum Borrowing Limit: Not specified by lender
  • Application Fee: Not specified by lender
  • Origination Fee: None
  • Late Fee: Not specified by lender
Requirements to Qualify
  • Minimum Credit Score: Not specified by lender
  • Minimum Annual Income: Not specified by lender
  • Citizenship Restriction: Citizens or Residents
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Non-Profit
Repayment Options
Repayment Details
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: Not specified by lender
  • Cosigner Release Option: Not specified by lender
  • Disability Discharge: Not specified by lender
Customer Service
  • US-Based Call Center: Not specified by lender
  • Hours of Operation (in addition to weekdays): Not specified by lender
  • Application Timeline: Instant credit decision
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: None
  • Job and Career Assistance: None
  • Financial Literacy Training: Yes

Other Loans that Credit Union Student Choice Offers:

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